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EU Parliament’s Environment Committee votes to exclude fossil fuels from COVID-recovery fund

"Environment MEPs vote fossil fuels OUT of recovery fund", 13 Oct 2020

They voted yesterday to exclude coal, oil, and gas from the EU’s EUR672.5 billion Recovery and Resilience Facility - the biggest part of the recovery fund. By doing so, they sent a clear message on what a sustainable recovery looks like to the Economic Affairs and Budget Parliament Committees...

The Environment Committee took other significant steps towards a greener future yesterday by backing the use of the EU taxonomy criteria to support only activities considered 'sustainable' in the sectors the taxonomy covers, like renewable power, and to implement the EU’s commitment to ‘do no harm’ with its recovery fund...

Environment Committee MEPs also voted to require high-carbon companies receiving support from the recovery fund to publish transition plans to align themselves with the Paris climate agreement...

The vote yesterday was an “opinion” by the Environment Committee, meaning it is primarily a signal of those MEPs’ positions. There was a final vote in the Committee on the full report today, which passed with a huge majority. The two lead Committees on the ‘Recovery and Resilience Facility’ - Economic Affairs and Budget - are due to vote on their reports in early November, followed by the Parliament’s plenary vote. At this point, the Environment committee will be able to re-table its own amendments if it feels it necessary...

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